On 29 December 2021, Spanish budget bill for fiscal year 2022 was published in the Spanish Official Gazette following its approval by the Spanish Congress and Senate.
The bill introduces a minimum corporate tax rate of 15% of the tax base for certain taxpayers from 2022. It applies to companies with a net turnover of at least 20 million euros or to companies that have opted for tax consolidation regardless of their turnover. For start-ups that benefit from the reduced rate of 15%, this minimum rate will be reduced to 10%. The minimum rate will be 18% for credit institutions and for companies operated in exploration, research, and exploitation of hydrocarbon deposits and underground storage facilities, whose general rate is 30%.
